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The MAGA price plunged 11% in the last 24 hours to trade at $6.43 as of 00:41 a.m. EST on trading volume that surged 41% to $10 million.
This comes as former president Donald Trump said in a recent interview with Bloomberg that the crypto industry is good for the nation, and that the US should lead in crypto to ensure nations like China don’t come to dominate it.
Trump also said in the interview that crypto is ”amazing” and that ”it is not going away.”
MAGA Price Aims For A Rebound Over The $6.9 Resistance
The MAGA price was trading in a range at the beginning of July as the bulls and bears fought for dominance. According to data from GeckoTerminal, the bulls won the struggle, pushing the token up on July 13 as TRUMP rose to the $10.2 resistance level.
However, the bears took control of the price, with MAGA dropping within a falling wedge pattern. The token is consolidating at the $6.0 level as the bulls aim for a breakout above toward a bullish trend reversal.
TRUMP trades below the 50-day and 200-day Simple Moving Averages (SMAs), coinciding with the downward trend.
The Relative Strength Index (RSI) is rebounding from the oversold level to trade up towards the 50-midline level, which shows that buyers may be adding to their positions, which may eventually push the token up.
Moreover, the Moving Average Convergence Divergence (MACD) trades below the zero line, coinciding with the price moving down. However, the MACD blue line crosses above the orange signal line, creating a bullish crossover.
The green bars on the histogram, also extending above the neutral line, indicate that TRUMP is currently on a positive momentum.
MAGA Price Prediction
The MAGA price analysis shows a looming bullish rally. The TRUMP bulls aim to use the falling wedge pattern to stage a bullish trend reversal.
In this scenario, the MACD and RSI could encourage optimistic investors to buy more, as they target the $10 resistance.
However, the 200-day SMA crosses above the 50-day SMA, forming a death cross at $7.12, which could prompt a further retrace. The retrace could push the price of MAGA to the next strong support at $5.10.
Even as the MAGA price aims for a trend reversal to the upside, investors are rushing to buy the new DOGE derivative P2E project PlayDoge (PLAY), which is rocketing towards $6 million in its presale.
PlayDoge Presale Raises Over $5.7 Million
PlayDoge is a mobile-based play-to-earn (P2E) game that transforms the DOGE meme into a Tamagotchi-style virtual pet that allows users to earn $PLAY tokens. In what has been an explosive start, PlayDoge has already amassed over $5.7 million in funds raised.
The project’s mascot, PlayDoge, is a virtual dog that acts as a P2E companion. Through its P2E mechanics, the project allows players to earn rewards by caring for their pets. Users can also take the pet on adventurous journeys, earning more $PLAY tokens.
Don’t ghost your #Doge or it’ll die 👻
Feed your Doge, earn rewards, and level up. No mazes, just fun!#Presale has launched! 🙌#PlayDoge #P2E #Memecoin pic.twitter.com/Fp2sFwycpj
— PlayDoge (@PlayDogeGame) May 31, 2024
PlayDoge sets itself apart from Dogecoin because the project functions on the BNB Smart Chain, created by the world’s largest crypto exchange, Binance. This chain allows users easy access to transaction efficiency and seamlessly integrate other gaming activities.
Token holders can also stake $PLAY to earn an impressive annual percentage yield (APY) of 84%.
According to 99Bitcoins, a YouTube crypto channel with more than 700k subscribers, $PLAY could soar up to 100X after its launch.
Investors can buy $PLAY tokens for $0.0052 each. The price will increase in a little more than 1 day, so buy soon to secure the best deal.
To join the presale, buy $PLAY from the official website using BNB, USDT, or a bank card.
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